Market Tone
Export prices for most grades of rice remained unchanged. Foreign buyers reportedly stayed
away from Thai rice, as prices are too high. Meanwhile, it is too risky for exporters to lower
the prices to induce fresh demand, due to a tight supply situation from the government
intervention program. Export prices are expected to be steady at these high levels, if the
Government has no plan for the next stock release. In addition, the recent government
approval of the intervention program encouraged millers and farmers to hold stocks longer.